Shaun Mahoney
About Shaun Mahoney
Shaun Mahoney (age 60) is Founder and Chief Executive Officer of the Mahoney Performance Institute (est. 2009). He is a Fordham University graduate and a Chartered Financial Analyst (CFA). His prior roles include senior management and executive positions at The Chase Manhattan Bank, Equifax, and Housecall Medical Resources. He joined the boards of Pioneer Bancorp, Inc., Pioneer Bancorp, MHC, and Pioneer Bank in 2019 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Chase Manhattan Bank | Senior management/executive positions | Not disclosed | Banking operations experience |
| Equifax | Senior management/executive positions | Not disclosed | Corporate/credit data exposure |
| Housecall Medical Resources | Senior management/executive positions | Not disclosed | Healthcare services operations |
| Mahoney Performance Institute | Founder & CEO | 2009–present | Leadership, strategy, culture programs |
External Roles
| Organization | Role | Tenure | Notes/Impact |
|---|---|---|---|
| 50 Group | Member | Not disclosed | Regional business leadership network |
| Black Watch Premier Soccer Club | Board member (past) | Not disclosed | Community engagement |
| NextRidge, Inc. | Chairman and board member (past) | Not disclosed | Private company governance |
| Center for Economic Growth | Board member (past) | Not disclosed | Regional economic development |
| Siena College School of Business | Chairman, Dean’s Advisory Council (past) | Not disclosed | Academic-business interface |
Board Governance
- Independence: The board determined that all directors except Thomas L. Amell and Shaun Mahoney are “independent” under Nasdaq standards; Mahoney is not independent .
- Board chair: Chaired by independent director Dr. James K. Reed, enhancing independent oversight .
- Committee assignments: Mahoney currently does not serve on any board committee (Audit, Compensation, Nominating & Corporate Governance) .
- Committee chairs: Dr. Reed serves as chair of Audit, Compensation, and Nominating & Corporate Governance committees .
- Attendance: In the six months ended Dec 31, 2024, the Board held six regular meetings, and no director attended fewer than 75% of board and committee meetings; eight directors attended the 2024 Annual Meeting .
Fixed Compensation
| Component | Amount | Period | Notes |
|---|---|---|---|
| Fees Earned or Paid in Cash ($) | $30,000 | 6 months ended Dec 31, 2024 | Director compensation table |
| Board meeting fee ($/meeting) | $4,600 | 6 months ended Dec 31, 2024 | Schedule disclosed |
| Loan committee meeting fee ($/meeting) | $400 | 6 months ended Dec 31, 2024 | Schedule disclosed |
Performance Compensation
| Equity Component | Quantity | Grant Date Fair Value ($) | Vesting Schedule |
|---|---|---|---|
| Stock awards outstanding (not vested) | 10,000 | Not disclosed for Mahoney in period | 20% per year beginning May 21, 2025 |
| Option awards outstanding | 25,000 | Not disclosed for Mahoney in period | 20% per year beginning May 21, 2025 |
| Option awards exercisable within 60 days (counted in ownership) | 5,000 | N/A | As of March 24, 2025 |
Note: No director-specific performance metrics tied to compensation are disclosed; director compensation consists of fees and time-based equity. The following table provides context on executive incentive plan metrics used for NEOs (not directors), which indicate the company’s pay-for-performance framework:
| TIP Performance Metric | CEO Weight (%) | Other Executives Weight (%) | Basis |
|---|---|---|---|
| Current-year ROA | 15 | Equal weights | Annual plan year ending Dec 31 |
| Three-year ROA | 40 | Equal weights | Long-term focus |
| Core deposit growth | 15 | Equal weights | Strategic growth |
| Three-year ROA vs peer group | 30 | Equal weights | Savings banks peer comparison |
Other Directorships & Interlocks
- Public company boards: None disclosed for Mahoney .
- Shared directorships/conflicts: None disclosed; independence determination noted Mahoney as non-independent, but no additional relationships beyond those reportable were identified .
Expertise & Qualifications
- Credentials: CFA; Fordham University graduate .
- Domain expertise: Leadership development; banking and finance from roles at Chase and Equifax; healthcare operations exposure .
- Community/regional engagement: Multiple local economic and civic roles supporting market knowledge .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Total beneficial ownership (shares) | 19,650 | Includes exercisable options and unvested stock |
| Ownership as % of shares outstanding | <1% | Based on 25,853,091 shares outstanding |
| Components: IRA holdings (shares) | 4,500 | Included in beneficial ownership |
| Components: Options exercisable within 60 days (shares) | 5,000 | Counted under Rule 13d-3 |
| Components: Unvested restricted stock (shares) | 10,000 | Time-based vesting |
| Pledged shares | None | No director or officer has pledged PBFS stock ; anti-pledging policy prohibits pledging absent board-approved exception (none approved) |
| Anti-hedging policy | Prohibits hedging/derivatives | No exceptions approved |
Governance Assessment
- Non-independence: Mahoney is classified as not independent under Nasdaq standards, limiting eligibility for key committees and potentially affecting perceived board independence balance .
- Committee engagement: He currently serves on no board committees, reducing direct involvement in Audit, Compensation, and Governance oversight; typical for non-independent directors at banks but lowers visibility into committee decision-making .
- Ownership alignment: Holds 19,650 beneficial shares including 10,000 time-vested stock awards and 5,000 near-term exercisable options; anti-hedging/anti-pledging policies in place, and no pledging reported, supporting alignment .
- Attendance and engagement: Board met six times in the period with no director below 75% attendance; eight directors attended the 2024 annual meeting, indicating baseline engagement .
- Related-party exposure: Aggregate director/officer loans outstanding were approximately $273,000 at Dec 31, 2024, all on market terms and performing; no Mahoney-specific related-party transactions disclosed .
- Director pay structure: Compensation is cash meeting fees plus time-based equity; absence of performance-based director pay mitigates pay-for-performance concerns but places emphasis on equity holding and policy restrictions for alignment .